Chainlink Labs Joins Project Pangea Banking Alliance to Promote Real-Time Cross-Border Forex Settlement with Stablecoins
Blockchain infrastructure company Chainlink Labs will join a banking alliance managing over $10 trillion in assets, named Project Pangea, aiming to achieve real-time cross-border forex payment settlement based on stablecoins within a year.
The alliance includes the euro stablecoin consortium Qivalis, supported by 37 European banks, and the Korean banking alliance UniKA, representing over 10 commercial banks. Niki Ariyasinghe, Vice President of Chainlink for Asia-Pacific and the Middle East, stated that the project aims to reshape the global forex market by advancing traditional T+2 settlement to a near-instant T+0 model using regulated euro and won-pegged stablecoins.
In terms of market mechanisms, under the efficiency bottleneck of traditional forex settlement, bank capital is accelerating its migration to blockchain infrastructure and stablecoin payment layers. Chainlink provides cross-chain interoperability and real-time data services, benefiting member banks of the alliance and stablecoin issuers, while increasing pressure on traditional clearing institutions, driving funds from delayed systems to atomic real-time settlement networks.
Source: Public Information
ABAB AI Insight
Chainlink Labs has previously collaborated with several financial institutions to promote RWA and cross-chain payments, such as the implementation of the CCIP protocol in traditional finance. This Project Pangea continues its role as a bridge between blockchain and banks, exploring a hybrid architecture similar to Swift and blockchain.
In terms of capital pathways, the alliance banks mobilize over $10 trillion in asset reserves, achieving atomic swaps between euro and won stablecoins through the Chainlink tech stack and dedicated L1 blockchain, motivated by reducing cross-border settlement costs, risks, and time, strategically aiming to seize dominance in real-time payment infrastructure and expand stablecoin use cases.
Similar to JPMorgan's Onyx platform and Ripple's cross-border pilot with banks, Project Pangea places European and Korean banks at the forefront of the transition from traditional FX to blockchain settlement, focusing on the high-frequency euro-won corridor.
Essentially, this is a reconstruction of the industry chain, where regulatory-friendly stablecoins and blockchain interoperability break the barriers of traditional T+2 clearing. The mechanism of atomic settlement eliminates counterparty risk and reduces capital occupation, prompting funds to concentrate on efficient digital tracks and reshaping global value transfer pricing power.
ABAB News · Cognitive Law
Settlement delays are invisible costs; real-time is competitiveness; T+2 is an old structure, T+0 reshapes capital speed.
Banks chase certainty, stablecoins connect the globe: whoever controls the infrastructure defines cross-border rules.
Traditional clearing is conservative; alliance experiments open new doors; as technological replacements accelerate, the slow will exit and the fast will concentrate wealth.